WASHINGTON — New York investment firm Veritas Capital will acquire Melbourne, Florida-based Harris Corporation’s government IT contracting business for $690 million.
The division is headquartered in Herndon, Virginia, and generates about $1 billion in annual revenue. Its work includes support for NASA’s Space Communications Network and Deep Space Network programs.
It is the second division Harris Corp. has sold.
Harris Corp has about 3,000 employees in the D.C. region. It says about 1,350 will transition to Veritas as part of the acquisition.
Earlier this month, the sale of its CapRock Communications commercial business to SpeedCast International Limited for $425 million closed. CapRock provides satellite and wireless communications for the cruise and energy markets.
The acquisition of Harris Corp.’s government IT business in Herndon still requires regulatory approval. Veritas says it expects the acquisition to close in the second quarter of 2017.
Harris Corp. has more than 21,000 employees and $7.5 billion in annual revenue.
